The shares of Brilliant Acquisition Corporation (NASDAQ: BRLI) displayed an upward trajectory during the after-market session on the US financial charts this Friday. In the extended trading session, Brilliant Acquisition stock demonstrated a notable surge of 31.91%, reaching $6.20. This impressive after-hours performance served to counterbalance the substantial 45.85% loss incurred during the regular session, settling at $4.70. The surge in BRLI stock subsequent to market closure was attributed to the finalization of a significant merger agreement.
On the final day of previous workweek, Brilliant Acquisition (BRLI) declared the successful completion of its well-thought-out merger with Nukkleus Inc. This union, appraising Nukkleus at about $105 million, signifies a significant step into a future filled with prospects in the realm of digital assets for both enterprises and those who invest in them. The combined entity has experienced a relocation to Delaware and a change of its name to Nukkleus Inc.
The cpmbined company’s ordinary shares and warrants are scheduled to kick off trading on the Nasdaq Stock Market using the ticker symbols NUKK and NUKKW, respectively, starting from December 26, 2023. Nukkleus underwent a determined transformation via a merger with Brilliant Acquisition conducted by a Special Purpose Acquisition Company (SPAC), leading to the acquisition of Nukkleus by Brilliant.
Subsequent to this merger, the stock symbol BRLI will undergo a transition to NUKK, ensuring the preservation of brand continuity and market presence. After the redomestication and prior to the merger taking effect, each outstanding public unit of Brilliant Acquisition underwent conversion into one share of Brilliant, one right in Brilliant, and one warrant to acquire common stock in the merged company.
As a consequence of the merger, each BRLI ordinary share is now being transformed into one share of common stock in the merged entity. Nukkleus stockholders are receiving one share of the combined company for every 36.44532 shares of Nukkleus stock held before the merger.
Additionally, each public warrant of BRLI before the merger is being converted into a new public warrant of the combined company. The rights of Brilliant Acquisition are undergoing conversion into shares of the merged company at a rate of one share for every ten rights.
